WELMODE FASHION: Court to Hear Wind-Up Petition on May 19WIDEST SKY: Court to Hear Wind-Up Petition on May 5WILLING KNITWEAR: Court to Hear Wind-Up Petition on May 26YAT WO: Members' Final General Meeting Set for May 17ZTOYS LIMITED: Court Enters Wind-Up Order

Gympie publisher Anthony James Stower, of Rocky Ridge Road,Gympie, is named in Australian Securities and InvestmentCommission documents as the sole director of the company.

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NEW ENERGY SYSTEMS: Reports US$5,837,395 Net Income for 2009------------------------------------------------------------New Energy Systems Group has filed with the Securities andExchange Commission its annual report on Form 10-K for the fiscalyear ended December 31, 2009.

The Company reported net income of US$5,837,395 for 2009 from netincome of US$4,451,072 for 2008. Revenues were US$26,375,890 for2009 from US$19,716,408 for 2008.

As of December 31, 2009, the Company had total assets ofUS$53,380,185 against total liabilities of US$13,386,862,resulting in stockholders' equity of US$39,993,323.

In its quarterly report on Form 10-Q, the Company said it believesit has sufficient cash to continue its current business throughSeptember 30, 2010, due to expected increased sales revenue andnet income from operations. "However we have suffered recurringlosses in the past and have a large accumulated deficit. Theseconditions raise substantial doubt about the Company's ability tocontinue as a going concern," the Company said.

The Company has taken certain restructuring steps to provide thenecessary capital to continue its operations. These stepsincluded 1) acquire profitable operations through issuance ofequity instruments, and 2) to continue actively seeking additionalfunding and restructure the acquired subsidiaries to increaseprofits and minimize the liabilities.

With offices in New York and Shenzhen, China, New Energy SystemsGroup (OTCBB: NEWN) -- http://www.chinadigitalcommunication.com/-- manufactures and distributes lithium ion batteries. Thecompany assembles and distributes finished batteries through itssales network and channel partners. The company also sells high-quality lithium-ion battery shell and cap products to majorlithium-ion battery cell manufacturers in China. The company'sproducts are used to power mobile phones, MP3 players, laptops,digital cameras, PDAs, camera recorders and other consumerelectronic digital devices.

This concludes the Troubled Company Reporter's coverage of NewEnergy Systems until facts and circumstances, if any, emerge thatdemonstrate financial or operational strain or difficulty at alevel sufficient to warrant renewed coverage.

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RIGHT TOP: Placed Under Voluntary Wind-Up Proceedings-----------------------------------------------------At an extraordinary general meeting held on April 8, 2010,creditors of Right Top Industrial Limited resolved to voluntarilywind up the company's operations.

RISE GROUP: Court to Hear Wind-Up Petition on May 26----------------------------------------------------A petition to wind up the operations of Rise Group TechnologyLimited will be heard before the High Court of Hong Kong onMay 26, 2010, at 9:30 a.m.

Industrial and Comercial Bank of China (Asia) Limited filed thepetition against the company on March 15, 2010.

SMART ASIA: Court Enters Wind-Up Order--------------------------------------The High Court of Hong Kong entered an order on April 7, 2010, towind up the operations of Smart Asia Watches Limited.

The official receiver is E T O' Connell.

SMART ASIA HOLDINGS: Court Enters Wind-Up Order-----------------------------------------------The High Court of Hong Kong entered an order on April 7, 2010, towind up the operations of Smart Asia Holdings Limited.

The official receiver is E T O' Connell.

SOCIETY FOR THE PROMOTION: Members' Final Meeting Set for May 18----------------------------------------------------------------Members of The Society for the Promotion of the New Fourth ArmyHistory Limited will hold their final meeting on May 18, 2010, at11:00 a.m., at the Room 1901-2, 19/F., Hong Kong Trade Centre,161-167 Des Voeux Road, Central, in Hong Kong.

At the meeting, Lai Ka Cheung, the company's liquidator, will givea report on the company's wind-up proceedings and propertydisposal.

SUCCESS ELITE: Court Enters Wind-Up Order-----------------------------------------The High Court of Hong Kong entered an order on March 31, 2010, towind up the operations of Success Elite Limited.

The official receiver is E T O' Connell.

SUCCESS MASTER: Court Enters Wind-Up Order------------------------------------------The High Court of Hong Kong entered an order on April 7, 2010, towind up the operations of Success Master Limited.

The official receiver is E T O' Connell.

SUMORE CORPORATION: Court Enters Wind-Up Order----------------------------------------------The High Court of Hong Kong entered an order on March 30, 2010, towind up the operations of Sumore Corporation Limited.

The official receiver is E T O' Connell.

TAKE FORTUNE: Court Enters Wind-Up Order----------------------------------------The High Court of Hong Kong entered an order on April 7, 2010, towind up the operations of Take Fortune Limited.

The official receiver is E T O' Connell.

TRESOR PUBLISHING: Members' Final Meeting Set for May 17--------------------------------------------------------Members of Tresor Publishing Limited will hold their final generalmeeting on May 31, 2010, at 10:00 a.m., at the 2310 DominionCentre, 43-59 Queen's Road East, in Hong Kong.

At the meeting, J P Walsh, the company's liquidator, will give areport on the company's wind-up proceedings and property disposal.

VIGERS HONG KONG: Court to Hear Wind-Up Petition on May 5---------------------------------------------------------A petition to wind up the operations of Vigers Hong Kong Limitedwill be heard before the High Court of Hong Kong on May 5, 2010,at 9:30 a.m.

Zhuan PP Holdings Limited, Great Gains International Limited, EastChampion Limited and Large Investments Limited filed the petitionagainst the company on October 19, 2009.

WAI SHING: Court to Hear Wind-Up Petition on June 2---------------------------------------------------A petition to wind up the operations of Wai Shing TransportationLimited will be heard before the High Court of Hong Kong onJune 2, 2010, at 9:30 a.m.

WELMODE FASHION: Court to Hear Wind-Up Petition on May 19---------------------------------------------------------A petition to wind up the operations of Welmode Fashion Limitedwill be heard before the High Court of Hong Kong on May 19, 2010,at 9:30 a.m.

WIDEST SKY: Court to Hear Wind-Up Petition on May 5---------------------------------------------------A petition to wind up the operations of Widest Sky Group Hong KongLimited will be heard before the High Court of Hong Kong onMay 19, 2010, at 9:30 a.m.

WILLING KNITWEAR: Court to Hear Wind-Up Petition on May 26----------------------------------------------------------A petition to wind up the operations of Willing Knitwear(Holdings) Limited will be heard before the High Court ofHong Kong on May 26, 2010, at 9:30 a.m.

Industrial and Comercial Bank of China (Asia) Limited filed thepetition against the company on March 5, 2010.

The rating reflects delays by Accura in servicing loan instalmentsand interests on its term loan obligations; the delay has beencaused by weak liquidity.

Set up in 1993 by Mr. Sanjeev S Sadhale, Accura (formerly, AccuraValves Manufacturing Company (India) Pvt Ltd, commenced operationsafter acquiring existing business of Accura Valves, aproprietorship concern, in 2007. Accura Valves was engaged inmanufacturing of automotive valves since 1995. Accuramanufactures automotive valves and supplies tyre valves to leadingtyre manufacturers in India. The company also manufacturescarburettor products at its Pune unit for Hyundai Motor India Ltd.Accura is one of the top three automotive tyre valve manufacturersin India catering to the passenger car, truck, and tractorsegments, with a market share of 20-22 per cent. Currently, thecompany has capacity to manufacture around 3 million valves permonth; following the commissioning of new capacities, its capacityis expected to increase to around 3.8 million per month.

Accura reported a profit after tax (PAT) of INR8.3 million on netsales of INR246.2 million for 2008-09 (refers to financial year,April 1 to March 31), as against a PAT of INR12.5 million on netsales of INR250.6 million for 2007-08.

CRISIL believes that Aggarwal's financial risk profile will remainweak over the medium term because of the firm's large workingcapital requirements. The firm's scale of operations is expectedto remain small over this period. The outlook may be revised to'Positive' in case of significant improvement in the firm'scapital structure and increase in scale of operations. Conversely,the outlook may be revised to 'Negative' if Aggarwal's capitalstructure or profitability deteriorates.

Set up in 1982 as a partnership firm by Mr. Sunil Mittal and hisfamily and friends, Aggarwal was converted into a proprietorshipconcern in 2007, with Mr. Mittal as proprietor. Aggarwal millsprocesses and sells basmati rice. It produces mainly parboiledrice, which has high demand in the Middle East. The firm's ricemilling, grading and sorting unit at Baghapurana (Punjab) hascapacity to process 10 tonnes of rice per hour. The firm alsoprocures unsorted rice from other mills, and sorts the same forsale in the export markets.

Aggarwal reported a profit after tax (PAT) of INR1.1 million onnet sales of INR479.8 million for 2008-09 (refers to financialyear, April 1 to March 31), against a PAT of INR0.9 million on netsales of INR150.7 million for 2007-08.

AIR INDIA: Payment of March Salary Delayed, Minister Patel Says---------------------------------------------------------------The Press Trust of India reports that Air India delayed payment ofMarch's salary to its employee by a month as it had to meet year-end expenses for various purposes.

PTI relates Minister of State for Civil Aviation Praful Patel said"the salary for the month of March, 2010, was paid to theemployees of Air India on April 7, 2010."

According to the news agency, Mr. Patel said the postponement wasnecessitated due to committed March year-end payments to oilcompanies, Airports Authority of India, foreign and Indian vendorsand because of repayment of loans.

The minister also said Air India has decided to close its officesat Lahore and Karachi in Pakistan due to the lack of operationsfrom these cities, the report adds.

As reported in the Troubled Company Reporter-Asia Pacific onJune 10, 2009, the National Aviation Co. of India Ltd was seekingINR14,000 crore in equity infusion, soft loans and grants to copeup with mounting losses. NACIL is the holding company formedafter the merger of erstwhile Indian Airlines and Air India in2007.

The TCR-AP, citing the Hindustan Times, reported on June 19, 2009,that Air India has been bleeding cash due to excess capacity,lower yield, a drop in passenger numbers, an increase in fuelprices and the effects of the global slowdown. The carrierincurred net losses of INR2,226.16 crore in 2007-08 and INR5,548crore in 2008-09.

In December, the Air India board decided to initiate a series ofmajor steps to cut costs and enhance savings. The carrier isfocusing on cutting costs by INR1,500 crore and increasingrevenues by INR1,200 crore as per its turnaround plan, accordingto the Business Standard.

The airline's turnaround plan has been broadly divided into 0-9months, 9-18 months and 18-36 months, and has been segregatedunder operational efficiency, product improvement, organizationbuilding and financial restructuring, the Business Standard said.

About Air India

Air India -- http://www.airindia.com/-- transports passengers throughout India and to more than 40 destinations throughout theworld. Affiliate Air India Express operates as a low-farecarrier, mainly between India and destinations in the Middle East,and Air India Cargo provides freight transportation. Thegovernment of India has merged Air India with another state-controlled carrier, Indian Airlines, which has focused on domesticroutes. The combined airline, part of a new holding companycalled National Aviation Company of India, uses the Air Indiabrand. The new Air India and its affiliates have a fleet of morethan 110 aircraft altogether.

The rating reflects ARL's weak financial risk profile, marked byhigh gearing, small net worth and weak debt protection metrics,and exposure to risks related to implementation and commissioningof large rolling mill project, and to volatility in raw materialprices. These rating weaknesses are partially offset by thebenefits that ARL derives from its promoters' experience in theiron and steel industry.

Outlook: Stable

CRISIL believes that ARL's financial risk profile will remainconstrained over the medium term because of low profitability andhigh gearing, as a result of its planned debt-funded capitalexpenditure. The outlook may be revised to 'Positive' if ARL'sfinancial risk profile improves through better profitability orinfusion of equity. Conversely, the outlook may be revised to'Negative' in case of larger-than-expected debt funding leading todeterioration in financial risk profile, or significant delays inimplementation of the rolling mill project.

About Allied Recycling

Set up in 2003 by Mr. Vijay Kumar Abrol, ARL manufactures billetsat its facility in Ludhiana, Punjab. Till June 2009, it wasmanufacturing ingots and trading in hot rolled (HR) and coldrolled (CR) steel sheets. The ingots are now used for captivepurpose and the trading business has been discontinued with.

ARL reported a profit after tax (PAT) of INR3.3 million on netsales of INR779.1 million for 2008-09 (refers to financial year,April 1 to March 31), against a PAT of INR1.9 million on net salesof INR560 million for 2007-08.

ATLAS AUTOMOTIVE: CRISIL Places 'BB+' Rating on INR39.4M Term Loan------------------------------------------------------------------CRISIL has assigned its 'BB+/Positive/P4+' ratings to the bankfacilities of Atlas Automotive Components Ltd.

The ratings reflect AACL's small scale of operations, customerconcentration in revenue profile, large working capitalrequirements, and exposure to volatility in raw material prices.These rating weaknesses are partially offset by the benefits thatAACL derives from its promoters' experience in the aluminiumcastings industry and established customer relationships, and bythe company's moderate gearing and debt protection metrics.

Outlook: Positive

CRISIL believes that sustenance of AACL's improved operatingmargin in 2009-10 (refers to financial year, April 1 to March 31),leading to higher cash accruals, will have a positive impact onthe company's business and financial risk profiles. The ratingsmay be upgraded if the company sustains the improved operatingmargin. Conversely, the outlook may be revised to 'Stable' incase of deterioration in AACL's operating margin, or if thecompany undertakes a large, debt-funded capital expenditureprogram, thereby adversely affecting its financial risk profile.

About Atlas Automotive

Incorporated as a private limited company in 1966, AACL wasreconstituted as a closely held public limited company in 2004-05.The company manufactures aluminium castings of various grades usedin the automobile and engineering industry. It manufacturesproducts using pressure, gravity, and sand die casting, mainly fororiginal equipment manufacturers, such as Greaves Cotton Ltd,Maruti Suzuki India Ltd (rated 'AAA/Stable/P1+' by CRISIL), TataMotors Ltd ('A+/Stable/P1+'), and others. AACL's manufacturingunit in Chinchwad, Pune (Maharashtra), has aluminium castingcapacity of 3000 tonnes per annum. AACL's promoters also manageEnkei Castalloy Ltd (Enkei), which manufactures aluminium castingsand alloy wheels, and Silicon Meadows Designs Ltd, which designsand manufactures dies and moulds required for aluminium casting.SMDL supplies dies and moulds only to group companies, AACL andEnkei.

AACL reported a net loss of INR4.1 million on an operating incomeof INR473.7 million for 2008-09, against a profit after tax ofINR21.3 million on an operating income of INR543.2 million for2007-08.

BHUMIKA GEMS: CRISIL Reaffirms 'P4' Ratings on Various Bank Debts-----------------------------------------------------------------CRISIL's rating on the bank facilities of Bhumika Gems continuesto reflect Bhumika's limited financial flexibility because of itssmall net worth and scale of operations, and supplierconcentration risk. These rating weaknesses are partially offsetby the benefits that Bhumika derives from its promoters'experience, of around two decades, in the diamond business.

Set up in 1993 by brothers Mr. Ghanshyam Vaghani, Mr. ArvindVaghani, and Mr. Mahesh Vaghani, Bhumika, a partnership firm, isengaged in the manufacture of, and trading in, polished diamonds.The firm specialises in diamonds of sizes ranging from 0.02 to0.20 carats. Mr. Ghanshyam Vaghani manages the procurement ofrough diamonds from Belgium, Mr. Arvind Vaghani manages the firm'smanufacturing facilities in Surat and Ahmedabad, and Mr. MaheshVaghani manages the operations from Mumbai. The brothers have anequal share in the firm's capital. The firm has a branch office inSurat.

For 2008-09 (refers to financial year, April 1 to March 31),Bhumika reported a profit after tax (PAT) of INR1.4 million on netsales of INR438 million, against a PAT of INR4.8 million on netsales of INR412 million for the previous year.

CLASSIC WEARS: Delay in Loan Repayment Cues CRISIL Junk Ratings---------------------------------------------------------------CRISIL has assigned its ratings of 'D/P5' to the bank facilitiesof Classic Wears Pvt Ltd, which is part of the Sobhagia group.The ratings reflect delay by the Sobhagia group in repayment ofterm loan obligations, owing to weak liquidity.

For arriving at the ratings, CRISIL has combined the business andfinancial risk profiles of CWL and Sobhagia Sales Pvt Ltd,together referred to herein as the Sobhagia group. This isbecause SSL and CWL are under the same promoter, are engaged inthe same lines of business, and have considerable operational,financial, and business synergies.

About the Group

Set up in 1984 by Mr. Raj Awasthy and his wife, CWL manufacturesreadymade woolen garments at its facility in Ludhiana (Punjab).CWL sells its products in retail through SSL's showrooms and itsown network of five showrooms.

Set up in 1993 by Mr. Raj Awasthy, SSL manufactures readymadegarments for men, women, and children at its facility in Ludhiana(Punjab). The company sells its products through its 21 exclusiveshowrooms and 16 franchisees under its brand Sportking and Mentor.

CWL reported a profit after tax (PAT) of INR3.3 million on netsales of INR295 million for 2008-09 (refers to financial year,April 1 to March 31), as against a PAT of Rs4.7 million on netsales of INR340.4 million for 2007-08.

Established in 1991 as a proprietary concern by Late Mr. MaheshChandra Agarwal, Dinesh Jewellers is currently managed by hiseldest son, Mr. Sailesh Agarwal (a certified gemmologist). DJdeals primarily in gem-studded gold jewellery and has onejewellery showroom in abids, Hyderabad, Andhra Pradesh.

Dinesh Jewellers reported a profit after tax (PAT) of INR3.4million on net sales of INR141 million for 2008-09 (refers tofinancial year, April 1 to March 31), against a PAT of INR2.5million on net sales of INR115 million for 2007-08.

The ratings reflect the Jindal Dall group's weak financial riskprofile, marked by a small net worth and poor debt protectionmetrics, small scale of operations, and exposure to risks relatedto intense competition in the agricultural commodities (agro-commodities) trading business, and to adverse changes ingovernment regulations. These rating weaknesses are partiallyoffset by the benefits that the Jindal Dall group derives from itspromoters' extensive experience in the agro-commodities tradingbusiness.

For arriving at its ratings, CRISIL has combined the business andfinancial risk profiles of FCVK and Jindal Super Dall Mills(JSDM), together referred to as the Jindal Dall group. This isbecause the two entities are under a common ownership, and in thesame line of business.

Outlook: Stable

CRISIL believes that the Jindal Dall group will continue tobenefit from its strong track record in the agro-commoditiestrading business. The outlook may be revised to 'Positive' ifthere is a sharp, sustained increase in the group's profitability,leading to considerable increase in its net worth. Conversely,the outlook may be revised to 'Negative' if the group's financialrisk profile deteriorates substantially, owing to significantwithdrawal of capital or large debt-funded capital expenditure.

About the Group

The Jindal Dall group has been trading in pulses for more thanfour decades. Mr. Shiv Shanker Jindal and his son, Mr. ChiragJindal, are partners in FCVK. Apart from FCVK, Mr. Shiv ShankerJindal also owns and manages JSDM. JSDM also trades in pulsesapart from processing pulses. Both the entities bid for governmenttenders to supply pulses for government programmes.

The Jindal Dall group reported a profit after tax (PAT) of INR6.6million on net sales of INR895.6 million for 2008-09 (refers tofinancial year, April 1 to March 31), against a PAT of INR5million on net sales of INR764.2 million for 2007-08.

IGC-IMT was incorporated in December 2008, for export of iron orefines to China. IGC-IMT is a 100-per-cent step-down subsidiary ofIndia Globalisation Capital, Inc., through IGC-Mauritius. IGC-IMT's commercial operations started in July 2009. The companydeals in iron ore fines with grades in the range of 50 to 55 Fecontent. The company has set up its base in Goa and exports thegoods from Goa port. The company has also set up a crusher toconvert solid iron ore into iron ore fines, as exporters need ironore fines.

JET AIRWAYS: To Add 3 to 4 ATR Planes-------------------------------------Jet Airways (India) Ltd. will add 3 to 4 ATR aircraft to itsexisting fleet in 6 to 9 months, the Economic Times reports,citing a senior official at the carrier.

K G Vishwanath, vice president, commercial strategy and investorrelations, said the firm had not finalized whether it would bepurchasing the aircraft or taking them on lease, the EconomicTimes relates.

"Currently all of the ATRs are operated on the Jet Konnect fleet.For the incremental ATRs we will look at which routes to put themon," the report quoted Vishwanath as saying.

According to the report, Jet's Chief Commercial Officer SudheerRaghavan said Jet Konnect, the economy service of the airlineoperating only on domestic routes, is expected to see load factorsrise with the addition of a new premium service within the Konnectflights.

"Our assessment is that revenues are likely to go up by 8-10% forJet Konnect," Raghavan told ET.

Jet Konnect contributes about half of the group's domesticrevenues currently, the report notes.

Jet Airways posted a consolidated net loss of INR9614.10 millionfor the year ended March 31, 2009, compared with consolidated netloss of INR6538.70 million for the year ended March 31, 2008.Consolidated total sales increased from INR109907.20 million forthe year ended March 31, 2008 to INR134488.60 million for the yearended March 31, 2009.

JINDAL SUPER: CRISIL Puts 'BB+' Rating on INR50 Mil. Cash Credit----------------------------------------------------------------CRISIL has assigned its 'BB+/Stable/P4+' ratings to the bankfacilities of Jindal Super Dall Mills, which is part of the JindalDall group.

The ratings reflect the Jindal Dall group's weak financial riskprofile, marked by a small net worth and poor debt protectionmetrics, small scale of operations, and exposure to risks relatedto intense competition in the agricultural commodities (agro-commodities) trading business, and to adverse changes ingovernment regulations. These rating weaknesses are partiallyoffset by the benefits that the Jindal Dall group derives from itspromoters' extensive experience in the agro-commodities tradingbusiness.

For arriving at its ratings, CRISIL has combined the business andfinancial risk profiles of JSDM and Faqir Chand Vinod Kumar andCompany (FCVK), together referred to as the Jindal Dall group.This is because the two entities are under a common ownership, andin the same line of business.

Outlook: Stable

CRISIL believes that the Jindal Dall group will continue tobenefit from its strong track record in the agro-commoditiestrading business. The outlook may be revised to 'Positive' ifthere is a sharp, sustained increase in the group's profitability,leading to considerable increase in its net worth. Conversely,the outlook may be revised to 'Negative' if the group's financialrisk profile deteriorates substantially, owing to significantwithdrawal of capital or large debt-funded capital expenditure.

About the Group

The Jindal Dall group has been trading in pulses for more thanfour decades. Mr. Shiv Shanker Jindal and his son, Mr. ChiragJindal, are partners in FCVK. Apart from FCVK, Mr. Shiv ShankerJindal also owns and manages JSDM. JSDM also trades in pulses,apart from processing pulses. Both the entities bid forgovernment tenders to supply pulses for government programmes.

The Jindal Dall group reported a profit after tax (PAT) of INR6.6million on net sales of INR895.6 million for 2008-09 (refers tofinancial year, April 1 to March 31), against a PAT of INR5million on net sales of INR764.2 million for 2007-08.

NR INTERNATIONAL: CRISIL Upgrades Rating on INR150MM Cash Credit----------------------------------------------------------------CRISIL has upgraded its ratings on the bank facilities of NRInternational Ltd, which is part of the NRIL group, to 'B-/Stable/P4' from 'D/P5'.

The rating upgrade has been driven by the regularization of cashcredit limit utilization by NRIL. There has been no instance ofcontinuous over-utilization of cash credit limits for more than 30days in the recent past by NRIL.

The ratings reflect the NRIL group's weak financial risk profilemarked by weak liquidity and debt protection metrics, its marginalmarket share, and its susceptibility to downtrends in the steelindustry. These rating weaknesses are partially offset by thegroup's diversified revenue profile.

For arriving at its ratings, CRISIL has combined the business andfinancial risk profiles of NRIL and Satyam Casting (P) Ltd,together referred to as the NRIL group. This is because thepromoters of NRIL and SCPL are planning to merge both thecompanies over the near term.

Outlook: Stable

CRISIL believes that the NRIL group will continue to benefit overthe medium term from its diversified revenue profile andpromoter's sound experience in the ingot-manufacturing and coal-trading businesses. The outlook may be revised to 'Positive' incase of more-than-expected increase in the group's revenues andprofitability, or a significant improvement in its liquidity.Conversely, the outlook may be revised to 'Negative' if thegroup's financial risk profile deteriorates, most likely becauseof lower-than-expected capacity utilization or larger-than-expected debt-funded capital expenditure, adversely affecting itsliquidity.

About the Group

NRIL, incorporated in 1991 by Mr. Nirmal Modi, manufacturesingots, imports and trades in coal and coke, transports coal andother materials through rakes and ships, and operates a retailoutlet for Hindustan Petroleum Corporation Ltd. NRIL is listed onthe Bombay Stock Exchange. NRIL's promoters own around 58 percent of the company. The company has manufacturing capacities of43,200 tonnes per annum (tpa), 60,000 tpa, and 28,880 tpa foringots, low-ash metallurgical (LAM) coke, and hard coke,respectively. NRIL reported a profit after tax (PAT) of INR4.5million on net sales of INR890.6 million for 2008-09 (refers tofinancial year, April 1 to March 31), against a PAT of INR7.34million on net sales of INR1010.8 million for 2007-08.

SCPL is engaged in production of ingots, with an installedcapacity of 25,000 tpa. SCPL reported a net loss of INR25.3million on net sales of INR111.9 million for 2008-09, against aPAT of INR0.16 million on net sales of INR225.6 million for2007-08.

The NRIL group reported a net loss of INR20.8 million on net salesof INR1002.5 million for 2008-09, against a net profit of INR7.5million on net sales of INR1236.5 million for 2007-08.

CRISIL believes that PLL will continue to benefit over the mediumterm from the regular and timely funding support from thepartners. The outlook may be revised to 'Positive' in case thefirm stabilizes its operations (leasing of properties)successfully, resulting in stable cash flows. Conversely, theoutlook may be revised to 'Negative' if the firm's financial riskprofile deteriorates and it contracts further debt to fund itscapital expenditure. The outlook may also be revised to'Negative' if PLL is unable to market its inventories in a time-bound manner, there are significant delays in completion of theproject, and in case of a slump in the demand for commercial realestate.

About Pooja Leisure

PLL is a partnership firm incorporated in 2007 for setting up acommercial project in the Juhu area of Mumbai. Mr. Vashu Bhagnani(the proprietor of POOJA Constructions), his wife Mrs. PujaBhagnani, and his son Mr. Jacky Bhagnani are the three partners ofthe firm; however, day to day operations are looked after by Mr.Vashu Bhagnani. Initially, the partners had planned to set up aluxury hotel; however, within months of project commencement, theydecided to develop a commercial (office/retail) complex forleasing out.

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GEOS CORP: President Wants Bankruptcy Proceedings Halted--------------------------------------------------------Tsuneo Kusunoki, the founder and president of Geos Corp., saidThursday he will ask the Tokyo District Court to avert bankruptcyproceedings for the major language school operator, Japan Todayreports. Japan Today says Mr. Kusunoki expressed his intention aday after Geos' bankruptcy filing.

"A company has come forward to extend financial support to Geos,so it does not have to go bankrupt," the report quotedMr. Kusunoki as saying.

Japan Today relates Mr. Kusunoki said an executive in charge offinancial affairs, who is one of the three board members at Geosincluding Kusunoki, decided to file for bankruptcy protection.

Mr. Kusunoki said he considering taking countermeasures as he didnot agree with the executive's decision, the report adds.

According to the report, the financial executive and some otherGeos officials, who filed for bankruptcy, told reporters Wednesdaythat although there was disagreement in the company's managementover whether it should go bankrupt, the application for courtprotection was legal.

But a lawyer for Mr. Kusunoki said the application may haveconstituted an abuse of rights, the report notes.

Japan Today states that stopping the bankruptcy proceedings,however, may be difficult as it has already been decided that ofthe 329 schools operated by Tokyo-based Geos, 230 will be handedover to G.communication Co.

"I would like to protect as many students and employees aspossible," Mr. Kusunoki said, adding that the transfer of so manyschools to G.communication would make it difficult to save them.

According to the report, Mr. Kusunoki is expected to voice hisopposition when the Tokyo court holds a hearing with partiesconcerned to decide whether it should order the launch ofbankruptcy proceedings.

Classes Resume

The Yomiuri Shimbun reports that G.communication said 201 of the230 schools it will take over from Geos resumed classes on Friday.Classes at the remaining schools will restart soon, according toG.communication.

As reported in the Troubled Company Reporter-Asia Pacific, Geosfiled for bankruptcy proceeding with the Tokyo District Court onApril 21, 2010. It has debts of about JPY75 billion.

The English school operator will hand over 230 schools in Japan tosubsidiary G.communication and the rest will be closed.

About Geos Corp.

Based in Tokyo, Japan, Geos Corp. operates 329 language schoolsand has approximately 36,800 students. Geos also runs languageschools in the United States, Canada, France, Thailand and othercountries.

GODO KAISHA: Moody's Withdraws Ratings on Mercury01 Notes---------------------------------------------------------Moody's Investor Service announced it has withdrawn the ratings ofMercury01 following the termination of the transaction and fullredemption of the Loan.

This is a risk transfer CDO transaction referencing a pool of J-REIT debt obligations held by Mitsubishi UFJ Trust and BankingCorporation.

The withdrawal of the ratings follows the termination of thetransaction and full redemption of the Loan on April 20, 2010,prior to the scheduled maturity date, according to the agreementbetween Mitsubishi UFJ Trust Banking, Godo Kaisha Mercury01, andall loan lenders.

Moody's Investors Service is a publisher of rating opinions andresearch. It is not involved in the offering or sale of anysecurities, nor is it acting on behalf of the offering party.This release is not a solicitation or a recommendation to buy,hold, or sell securities.

JAPAN FINANCE: Moody's Reviews Ratings on Two Japan SME CLOs------------------------------------------------------------Moody's Investors Service announced that it has placed underreview for possible upgrade its ratings of two Japan SME CLOs bythe Japan Finance Corporation (formerly, Japan Finance Corporationfor Small and Medium Enterprise):

These are cash CLO transactions backed by corporate loans in theform of (1) SME loans originated by regional financialinstitutions and purchased by JFC under its "purchase scheme"securitization program and (2) SME loans originated by JFC underits "self-origination scheme" securitization program. In bothcases, the SME loans were originated with the intention ofsecuritizing them.

The actions reflect the growing likelihood of a ratings upgradebecause of the transaction's improved credit profile stemming froma lower-than-expected number of recent assets defaulting and theongoing amortization of the senior tranches.

According to the originator's collection reports and the trustee'sreports for April, in the first quarter of calendar 2010, only twotransactions, amounting to JPY24 million, in this cash CLO seriesdefaulted -- both in the CLO in June 2007.

Moody's notes that while the defaults have been lower thanexpected, new delinquencies in the six transactions of this cashCLO series (including the two transactions affected by theactions) keep occurring generally. While the effects from lower-than-expected defaults and the rise in delinquency must beanalyzed, Moody's believes that the ratings of these twotransactions are likely to be upgraded as the positive effect fromlow default experience and ongoing amortization is expected tooutweigh the negative effect from rising delinquencies.

Moody's plans to update the expected default rate assumption foreach transaction in the coming weeks, taking into account thetrends in default rates and delinquencies. Additionalconsiderations will also be given to the overall Japanese macroeconomy and the business environment and financing situation forSMEs.

Softbank has maintained its solid operating and financialperformance and the company reported increased sales and profitsduring the nine months ended December 2009, while its two majorcompetitors, Nippon Telegraph & Telephone Corp. (AA/Stable/A-1+)and KDDI Corp. reported a drop in sales and profits for the sameperiod. Standard & Poor's believes that the stability ofSoftbank's earnings base has increased steadily, as the company'smajor business segments continue to make profit contributions fromstable profits. The Mobile Communications segment, which accountsfor about 60% of Softbank's consolidated revenues and roughly halfof consolidated operating profit, has maintained a steady increasein its subscriber base and has reversed its declining trend inARPU (monthly average revenue per user). The BroadbandInfrastructure segment, which faces a shrinking asymmetric digitalsubscriber line service market, continues to make stablecontributions to profit and cash flow through rigorous costcutting and reduced capital expenditures.

The other business segments are also recording steady operatingand financial performances; The Fixed-Telecommunications segmenthas reported profits since March 2008, and the Internet Culturesegment also continues to report high profits amid the weakeconomic recovery.

Softbank is projected to report another record profit in fiscal2009 (ended March 31, 2010). Standard & Poor's believes that thecompany will maintain its solid operating and financialperformance in the medium term. S&P also expects to see steadyimprovement in the company's financial risk profile in comingyears, based on the company's clear financial policy to improveits debt leverage and credit profile by reducing its debt.Softbank has announced that its financial target is to be netdebt-free (excluding lease obligations) by fiscal 2014 (endingMarch 31, 2015). S&P also believes that the company hasstrengthened its relationships with major domestic banks in thepast few years and S&P view this as a positive factor for thecompany's financial risk profile.

On the other hand, however, Standard & Poor's believes thatSoftbank's aggregate debt level, including lease and other debt-like obligations, is high, although the company has graduallyreduced its debt over the past two years. Even afterincorporating Softbank's steady improvement in cash flowgeneration in recent years, S&P expects Softbank's target ofbecoming net debt free by March 31, 2015, to be a key challenge.S&P does not expect to see an accelerated improvement inSoftbank's capital structure within the next year or so, as S&Pbelieves the company is likely to increase its capitalexpenditures in fiscal 2010 to accommodate an increase insubscribers and data traffic in its Mobile Communicationsoperations. Therefore, for the company to accelerate debtreduction to achieve its financial target, S&P believes thecompany may need to take additional measures, such as asset sales,in addition to continuous improvement in its cash flow generation.

Softbank raised capital to acquire Softbank Mobile through a wholebusiness securitization. Standard & Poor's recognizes that thecash flow generated from this business will be prioritized asrepayment funds for the whole business securitization transaction.As a result, cash flows generated from Softbank Mobile will notbenefit the company as long as the securitization transactionexists. Although advantages such as stronger collaboration andsynergy effects between the Mobile Communications operations andSoftbank's other businesses are incorporated into S&P's businessrisk profile analysis, Standard & Poor's believes that the ratinganalysis of Softbank requires segregation of the financialprofiles of the mobile business and other businesses. However,S&P also believes that there is an increasing possibility thatSoftbank will replace the existing WBS loans with otherrefinancing schemes in the next few years, given the solidoperating performance of the mobile business and a track record ofprogress in the repayment of WBS loans. Therefore, S&P believesit necessary to incorporate operating and financial performance,as well as funding plans, of the mobile business into S&P'sanalysis of Softbank's financial risk profile for the medium term.

The outlook on the long-term corporate credit rating is stable.The competitive environment among the three major Japanesetelecommunications providers is expected to remain generallystable in the near to medium term, and Standard & Poor's believesit is likely that the company will maintain its solid operatingand financial performance in the medium term. While Standard &Poor's believes that the company's current key financial ratios,such as debt to capital or FFO to debt, are weak for the currentratings level, S&P expects to see steady improvement in Softbank'sfinancial risk profile.

For the rating to experience upward movement, S&P believes thatclearer prospects for an improvement in the company's financialprofile are necessary. S&P also believe it essential to see amore formal and clearer plan of its refinancing of WBS loans, asS&P believes that there is an increasing possibility for Softbankto replace the existing WBS loans with other refinancing schemes.Conversely, S&P would consider a downgrade if: 1) the competitiveenvironment for the telecommunication industry deterioratesrapidly, 2) the competitiveness and profitability of the MobileCommunications and other segments face rapid deterioration, or3) the company's financial improvement is overly delayed orbecomes increasingly less likely due to increased capitalexpenditures or other reasons.

=========K O R E A=========

HYUNDAI MOTOR: Posts KRW1.1 Trillion Net Profit in Q1-----------------------------------------------------Hyundai Motor Co. sold 842,037 units globally in the firstquarter, a 36.6% increase from a year earlier, helped by thelaunch of new models and strong demand in overseas markets.

Net profit increased almost five-fold to KRW1.13 trillion, boostedby a surge in equity earnings from overseas subsidiaries such asChina and India. Operating profit also rose to KRW702.7 billioncompared to KRW153.8 billion a year earlier, while sales increased39.6% to KRW8.4 trillion.

Hyundai's jump in first-quarter earnings can be attributed to thesuccessful launch of its new models such as the all-new Sonata andTucson ix (named Tucson/ix35 in other regions). Global autodemand, especially in emerging markets, is also showing signs of arecovery, boosting sales. Hyundai's operating profit margin alsorose to 8.3% from 2.5% during the same period a year earlier.

As reported in the Troubled Company Reporter-Asia Pacific onDecember 11, 2009, Fitch Ratings revised the Outlook on HyundaiMotor's and Kia Motors' foreign currency Long-term Issuer DefaultRatings to Positive from Negative, and simultaneously affirmedthem at 'BB+'. The agency also affirmed the 'BB+' rating on bothcompanies' senior unsecured debt and the Short-term IDRs at 'B'.

HMC's and Kia's Long-term IDR was downgraded to 'BB+' withNegative Outlook in January 2009, due to concerns that the globalauto market downturn would negatively impact the profitability andkey credit metrics of the companies to an extent that is notcommensurate to investment grade levels.

===============M A L A Y S I A===============

AXIS INC: Has Until June 30 to Submit Regularization Plan---------------------------------------------------------Bursa Malaysia Securities Berhad has granted Axis IncorporationBerhad an extension of time until June 30, 2010, to undertake aregularization plan that complies with paragraph 3.1 of PracticeNote 17 of the Main Market Listing Requirements and submit theregularization plan to Bursa Securities for approval.

Axis is also required to comply with paragraph 5.2(c) of PracticeNote 17 of the Main Market LR to record a net profit in twoconsecutive quarterly results immediately after the completion ofthe implementation of the regularization plan. The bourse saidAxis must ensure that the relevant quarterly results are subjectedto a limited review by an external auditor before they areannounced to Bursa Securities.

Bursa Securities further decided that the extension of time iswithout prejudice to Bursa Securities' right to exercise its powerunder paragraph 8.14C(1) of the Listing Requirements of BursaSecurities read together with paragraph 4.1 of Practice Note 29 ofthe Main Market LR to proceed to de-list the securities of theCompany in the event:

(i) the Company fails to submit the regularization plan to Bursa Securities for approval within the Extended Timeframe;

(ii) the Company fails to obtain the approval for the implementation of its regularization plan and does not appeal within the timeframe (or extended timeframe, as the case may be) prescribed to lodge an appeal;

(iii) the Company does not succeed in its appeal; or

(iv) the Company fails to implement its regularization plan within the timeframe or extended timeframe stipulated by Bursa Securities.

Upon occurrence of any of the events set out in (i) to (iv), thesecurities of the Company shall be removed from the Official Listof Bursa Securities upon the expiry of 7 market days from the datethe Company is notified by Bursa Securities or such other date asmay be specified by Bursa Securities.

About Axis Inc.

Based in Johor Bahru, Malaysia, Axis Incorporation Berhad(KUL:AXIS) -- http://www.chongee.com.my-- is principally engaged in the business of investment holding. The company, through itssubsidiaries, is engaged in fabric knitting and dyeing, andmanufacturer of garments. Its subsidiaries include Asiapin Sdn.Bhd., Chongee Enterprise Sdn. Bhd. and GBC Marketing Pte. Ltd. InJune 2008, Axis Incorporation Berhad announced the disposal of theentire equity interest in Ganad Corporation Bhd.

On May 23, 2009, Axis Incorporation Berhad was classified as anaffected issuer under the Amended Practice Note No. 17/2005 andParagraph 8.14C of the Listing Requirements of Bursa MalaysiaSecurities Berhad as the Company was unable to provide a solvencydeclaration to Bursa Securities.

In addition, the Company is required to provide Bursa Malaysiawith a written confirmation as to the details of the appointmentof the external auditors including the date of appointment andaudit timeframes.

Malaysian Merchant Marine Berhad has been classified as anaffected listed issuer as the Company's wholly-owned subsidiary,Erayear Solution Sdn Bhd, is unable to complete the purchase of achemical tanker under a Memorandum of Agreement signed withUniships Pte Ltd on January 8, 2010.

MALAYSIAN MERCHANT: Served With Writs Of Summons------------------------------------------------Malaysian Merchant Marine Berhad has been served with a Writ ofSummons and a Statement of Claim by Siew & Partners on behalf ofDato' Ramesh Rajaratnam, the Executive Deputy Chairman of MMM.

The Writ and Statement relates to Dato' Ramesh Rajaratnam'semployment contract. Dato' Ramesh Rajaratnam is claiming for theof MYR5,630,710 including interest at 8% per annum and the relatedlegal costs and any other costs that the court deems fit.

At present, the Company does not have sufficient funds to pay theamount claimed.

The Company is considering all options, including seeking legaladvice on the said claim.

Malaysian Merchant Marine Berhad has been classified as anaffected listed issuer as the Company's wholly-owned subsidiary,Erayear Solution Sdn Bhd, is unable to complete the purchase of achemical tanker under a Memorandum of Agreement signed withUniships Pte Ltd on January 8, 2010.

RAMUNIA HOLDINGS: To Hold Scheme Creditors' Meeting on May 7------------------------------------------------------------The High Court of Malaya has directed a Meeting of the SchemeCreditors of Ramunia Fabricators Sdn Bhd, a wholly ownedsubsidiary of Ramunia Holdings, to be convened on May 7, 2010 at10:30 a.m. The meeting will be held at Dewan Seroja, Kelab GolfPerkhidmatan Awam, Bukit Kiara, Off Jalan Damansara, 60000, inKuala Lumpur.

On April 16, 2010, RFSB issued and despatched an explanatorystatement to its unsecured creditors to deliberate and approve theproposed scheme of arrangement pursuant to Section 176 (1) of theCompanies Act, 1965.

The Proposed Scheme will not have any effect on the groupstructure, share capital and substantial shareholders structure ofRFSB. The Proposed Scheme is also not expected to have anymaterial effect on the net assets, earnings or gearing of theGroup. However, it is envisaged that with the repayment of theproposed settlement to Scheme Creditors, RFSB will be able torecognize a one-time gain, representing the amount of debt waivedfrom the proposed settlement.

The implementation of the Proposed Scheme is conditional upon:

(a) Completion of the proof of debt exercise;

(b) the Scheme Creditors approving the Proposed Scheme by the requisite majority at the CCM to be convened on May 7, 2010;

(c) the approval and order of the High Court of the Proposed Scheme pursuant to Section 176(3) of the Act within thirty (30) days of condition (b) being achieved;

(d) the lodgment of the Order with the Companies Commission of Malaysia within seven (7) days of condition (c) being achieved; and

(e) The completion of the Proposed Disposal of the Teluk Ramunia Fabrication Yard together with all movable and immovable assets located thereon to Sime Darby Engineering Sdn Bhd.

The Proposed Scheme is to be subject to such modifications orconditions as the High Court may approve or impose and RFSB mayconsent on behalf of all concerned to any modifications oradditions to the Proposed Scheme.

The Proposed Scheme only involves RFSB and does not involve RAHBand/or its other subsidiaries.

About Ramunia Holdings

Based in Kuala Lumpur, Malaysia, Ramunia Holdings Berhad isengaged in investment holding and provision of managementservices. Its wholly owned subsidiaries include RamuniaFabricators Sdn. Bhd., which is engaged in fabrication of offshoreoil and gas related structure and other related civil works;Ramunia International Holdings Ltd., which is engaged in offshoreinvestment holding; Ramunia International Services Ltd., which isengaged in upstream activities of the oil and gas industry;Ramunia Optima Sdn. Bhd., which is engaged asset owning company,specifically holding ownership of marine vessels; Globe WorldRealty Sdn. Bhd., which is engaged in yard development andmanagement of the Company's fabrication yards; Ramunia TrainingServices Sdn. Bhd., which is provision of training and relatedservices, and O & G Works Sdn. Bhd., which is engaged in provisionof management and administration services.

* * *

Ramunia Holdings Berhad has been considered as an Affected ListedIssuer under Practice Note No. 17 of the Bursa Malaysia SecuritiesBerhad.

The Company triggered the PN 17/2005 listing since auditors haveexpressed a modified opinion with emphasis on the company's goingconcern status in the latest audited accounts for the financialyear ended October 31, 2009, and the company's shareholders equityon a consolidated basis is equal to or less than 50% of the issuedand paid-up capital of the company.

RAMUNIA HOLDINGS: Completes Sale of Fabrication Yard to Sime Darby------------------------------------------------------------------Ramunia Holdings Berhad disclosed that it has completed theproposed disposal of Teluk Ramunia Fabrication Yard together withall moveable and immoveable assets located thereon to Sime DarbyEngineering Sdn Bhd for a final disposal consideration ofMYR515 million which has been agreed upon between RAHB, RamuniaOptima Sdn Bhd and SDE subsequent to the completion of the assettagging exercise.

Based in Kuala Lumpur, Malaysia, Ramunia Holdings Berhad isengaged in investment holding and provision of managementservices. Its wholly owned subsidiaries include RamuniaFabricators Sdn. Bhd., which is engaged in fabrication of offshoreoil and gas related structure and other related civil works;Ramunia International Holdings Ltd., which is engaged in offshoreinvestment holding; Ramunia International Services Ltd., which isengaged in upstream activities of the oil and gas industry;Ramunia Optima Sdn. Bhd., which is engaged asset owning company,specifically holding ownership of marine vessels; Globe WorldRealty Sdn. Bhd., which is engaged in yard development andmanagement of the Company's fabrication yards; Ramunia TrainingServices Sdn. Bhd., which is provision of training and relatedservices, and O & G Works Sdn. Bhd., which is engaged in provisionof management and administration services.

* * *

Ramunia Holdings Berhad has been considered as an Affected ListedIssuer under Practice Note No. 17 of the Bursa Malaysia SecuritiesBerhad.

The Company triggered the PN 17/2005 listing since auditors haveexpressed a modified opinion with emphasis on the company's goingconcern status in the latest audited accounts for the financialyear ended October 31, 2009, and the company's shareholders equityon a consolidated basis is equal to or less than 50% of the issuedand paid-up capital of the company.

RAMUNIA HOLDINGS: Expects to Step Out of PN17 by Year-End---------------------------------------------------------Ramunia Holdings Bhd hopes to get over from Practice Note 17status by the end of year, according to BERNAMA.com.

"We have 12 months to pull in the financial regularisation plan,hopefully we can get over it as soon as possible," the reportquoted Ramunia Chairman Datul Azizan Abdul Rahman as saying at apress conference after the company's annual general meeting.

Ramunia currently has borrowings of MYR347 million, BERNAMA.comnotes.

"We will meet with unsecured creditors on May 7 to carry out thepayment scheme," Azizan said.

Based in Kuala Lumpur, Malaysia, Ramunia Holdings Berhad isengaged in investment holding and provision of managementservices. Its wholly owned subsidiaries include RamuniaFabricators Sdn. Bhd., which is engaged in fabrication of offshoreoil and gas related structure and other related civil works;Ramunia International Holdings Ltd., which is engaged in offshoreinvestment holding; Ramunia International Services Ltd., which isengaged in upstream activities of the oil and gas industry;Ramunia Optima Sdn. Bhd., which is engaged asset owning company,specifically holding ownership of marine vessels; Globe WorldRealty Sdn. Bhd., which is engaged in yard development andmanagement of the Company's fabrication yards; Ramunia TrainingServices Sdn. Bhd., which is provision of training and relatedservices, and O & G Works Sdn. Bhd., which is engaged in provisionof management and administration services.

* * *

Ramunia Holdings Berhad has been considered as an Affected ListedIssuer under Practice Note No. 17 of the Bursa Malaysia SecuritiesBerhad.

The Company triggered the PN 17/2005 listing since auditors haveexpressed a modified opinion with emphasis on the company's goingconcern status in the latest audited accounts for the financialyear ended October 31, 2009, and the company's shareholders equityon a consolidated basis is equal to or less than 50% of the issuedand paid-up capital of the company.

The Troubled Company Reporter-Asia Pacific, citing the BusinessWorld, reported on May 26, 2008, that Liberty Telecoms asked aMakati regional trial court to reject RCBC's motion to terminatethe company's rehabilitation and have it liquidated, saying itgoes against the purpose of corporate rehabilitation.

According to Business World, RCBC filed the motion arguing thatthe company has lost the opportunity to revive its operations.

Business World said Liberty Telecoms in 2005 promised the court itcould resuscitate itself by operating a nationwide voice and datanetwork or with an assigned 700-Mhz frequency from the NationalTelecommunications Commission.

RCBC said in the report that the frequency supposedly assigned toLiberty Telecoms had been assigned to Smart Broadband Inc. andasked the court to summon the NTC to clarify the issues houndingthe telco's case.

Liberty Telecoms, however, denied that the 700MHz frequency hadbeen assigned to SBI and claimed the frequency was still in thecompany's name.

About Liberty Telecoms

Manila-based Liberty Telecoms Holdings Inc. was incorporated onJanuary 14, 1994, and designed primarily to be the holding companyfor Liberty Broadcasting Network Inc. and Skyphone Logistics Inc.LIB was listed as a public company at the Philippine StockExchange on October 17, 1994.

In April 2005, the management of LIB decided to suspend itsbusiness operations due to lack of capital required to operateand grow the business. In August 2005, the group of companiesfiled with a Regional Trial Court in Makati City a petition forcorporate rehabilitation as part of LIB's plan to resolve and tocontinue normal operations. The Court issued a stay order ofall the outstanding liabilities of LIB and its affiliates andprevented creditors from foreclosing its assets.

The Makati City Regional Trial Court approved Liberty'srehabilitation plan in December 2006.

=================S I N G A P O R E=================

ASIAN MINERALS: Court Enters Wind-Up Order------------------------------------------The High Court of Singapore entered an order on April 16, 2010, towind up the operations of Asian Minerals & Ores Pte Ltd.

CHUAN SIANG: Court Enters Wind-Up Order---------------------------------------The High Court of Singapore entered an order on April 9, 2010, towind up the operations of Chuan Siang Enterprises(s) Pte Ltd.

EASTERN ISLAND: Creditors' Proofs of Debt Due May 23----------------------------------------------------Eastern Island Base Pte Ltd, which is in liquidation, requires itscreditors to file their proofs of debt by May 23, 2010, to beincluded in the company's dividend distribution.

FORTUNE DESIGN: Court Enters Wind-Up Order------------------------------------------The High Court of Singapore entered an order on April 9, 2010, towind up the operations of Fortune Design & Renovation Pte Ltd.

INSERVE (S) PTE: Members' Final Meeting Set for May 24------------------------------------------------------Members of Inserve (s) Pte Ltd, will hold their final meeting onMay 24, 2010, at 11:00 a.m., at the 1 Scotts Road, #21-08 ShawCentre, Singapore 228208.

At the meeting, Chia Lay Beng, the company's liquidator, will givea report on the company's wind-up proceedings and propertydisposal.

L&M EQUIPMENT: Court to Hear Wind-Up Petition on May 7------------------------------------------------------A petition to wind up the operations of L&M Equipment Pte Ltd(formerly known as L&M Engineering Logistics Pte Ltd) will beheard before the High Court of Singapore on May 7, 2010, at 10:00a.m.

L&M.Com Pte Ltd (formerly known as L&M Holdings Pte Ltd) filed thepetition against the company on February 12, 2010.

L&M INFRATECH: Court to Hear Wind-Up Petition on May 7------------------------------------------------------A petition to wind up the operations of L&M Infratech Pte Ltd(formerly known as L&M Envirocare Pte Ltd) will be heard beforethe High Court of Singapore on May 7, 2010, at 10:00 a.m.

L&M.Com Pte Ltd (formerly known as L&M Holdings Pte Ltd) filed thepetition against the company on February 12, 2010.

L&M PETROMAS: Court to Hear Wind-Up Petition on May 7-----------------------------------------------------A petition to wind up the operations of L&M Petromas Pte Ltd(formerly known as L&M Impex Pte Ltd) will be heard before theHigh Court of Singapore on May 7, 2010, at 10:00 a.m.

L&M.Com Pte Ltd (formerly known as L&M Holdings Pte Ltd) filed thepetition against the company on February 12, 2010.

M.E.I. ENGINEERS: Court Enters Wind-Up Order--------------------------------------------The High Court of Singapore entered an order on April 16, 2010, towind up the operations of M.E.I. Engineers Pte Ltd.

ORIENT NETWORKS: Creditors Get 0.78956% Recovery on Claims----------------------------------------------------------Orient Networks Holdings Limited declared the first and finaldividend on April 23, 2010.

PRESTIGE BUILDING: Court Enters Wind-Up Order---------------------------------------------The High Court of Singapore entered an order on April 16, 2010, towind up the operations of Prestige Building Maintenance ServicesPte Ltd.

TW OILS: Court to Hear Wind-Up Petition on May 7------------------------------------------------A petition to wind up the operations of TW Oils & Fats (Singapore)Pte Ltd will be heard before the High Court of Singapore on May 7,2010, at 10:00 a.m.

Carotino SDN BHD filed the petition against the company onApril 12, 2010.

The Petitioner's solicitors are:

Shook Lin & Bok LLP 1 Robinson Road #18-00 AIA Tower Singapore 048542

===========T A I W A N===========

ASUSTEK COMPUTER: Sees Better-than Expected Q2 Business Prospects-----------------------------------------------------------------ASUSTeK Computer Inc. is optimistic about its business prospectsin the second quarter due to better-than expected performance inthe first quarter, the China Post reports citing companyexecutives.

AU OPTRONICS: Swings to NT$7.27 Billion Net Profit in Q1--------------------------------------------------------AU Optronics Corp. announced its unaudited results for the firstquarter of 2010. AUO swung to a net income of NT$7.27 billion(US$229 million) in the first quarter of 2010 from a net loss ofNT$20 billion a year earlier.

For the first quarter ended March 31, 2010, AUO postedconsolidated revenue of NT$111.56 billion (US$3.51 billion), down2.9% from the previous quarter.

For the first quarter, AUO's large-sized panels totaled 27.22million units, down 0.6% quarter-over-quarter but up significantly107.1% year-over-year. In terms of small- and medium-sized panels,the shipment was over 56.99 million units, down 5.2% quarter-over-quarter but up 32.7% year-over-year.

"As a result, the Company's average selling price per square meterdropped by merely 1.6% from the previous quarter. In addition,the management team has taken a proactive approach toward productmix improvements. On rising high-end product mix and the designefforts which helped lower our costs effectively, our gross marginpicked up from last quarter's 7.6% to 12.8% this quarter.Meanwhile, our operating margin also increased considerably from1.7% last quarter to 7.3%. Being noteworthy, our EBITDA marginexpanded to 27.6% for the first quarter."

About AU Optronics

Based in Taiwan, AU Optronics Corp. -- http://www.auo.com/-- designs, develops, manufactures, assembles and markets flat paneldisplays. The Company's principal products are thin-filmtransistor-liquid crystal display (TFT-LCD) panels. Its panelsare used in computer products, such as notebook computers anddesktop monitors; consumer electronics products, such as mobilephones, digital photo frames, digital still cameras, portablenavigation display, portable digital video disc players, LCDtelevisions, and industrial displays. The Company sells itspanels primarily to original equipment manufacturing serviceproviders or brand customers. The Company groups its businessinto three marketing channels: Information Technology Displays,Consumer Products Displays and Television Displays. In March 2008and June 2008, the Company acquired 45% and 26% of equityinterests in Verticil Electronic Corp. and Dazzo TechnologyCorporation, respectively.

* * *

As reported in the Troubled Company Reporter-Asia Pacific onDec. 14, 2009, Fitch Ratings upgraded AU Optronics Corporation'sLong-term foreign and local currency Issuer Default Ratings to'BB-' from 'B+', and its National Long-term rating to 'BBB(twn)'from 'BBB-(twn)'. The Outlook is revised to Stable from Negative.

HANNSTAR DISPLAY: Obtains 4-Year NT$8 Billion Syndicated Loan-------------------------------------------------------------HannStar Display Corp. obtained a NT$8-billion, four-year loanfrom a group of 20 banks, including the state-run Bank of Taiwan,to repay loans and strengthen working capital, the China Postreports. The company has the right to extend the loan for anadditional year, the report says.

As reported in the Troubled Company Reporter-Asia Pacific onFebruary 3, 2010, The Taipei Times said HannStar Display sank intothe red in the fourth quarter due partly to antitrust lawsuitcosts.

Taipei Times said the company posted loss of NT$4.3 billion in thefourth quarter of 2009, an improvement from a loss of NT$8.2billion in the same period in 2008.

The company wrote off litigation costs of NT$1.6 billion for theprice-fixing probes, including one initiated by the US Departmentof Justice, the report noted.

Tuesday's edition of the TCR-AP delivers a list of indicativeprices for bond issues that reportedly trade well below par.Prices are obtained by TCR-AP editors from a variety of outsidesources during the prior week we think are reliable. Thosesources may not, however, be complete or accurate. The TuesdayBond Pricing table is compiled on the Friday prior topublication. Prices reported are not intended to reflect actualtrades. Prices for actual trades are probably different. Ourobjective is to share information, not make markets in publiclytraded securities. Nothing in the TCR-AP constitutes an offeror solicitation to buy or sell any security of any kind. It islikely that some entity affiliated with a TCR-AP editor holdssome position in the issuers' public debt and equity securitiesabout which we report.

A list of Meetings, Conferences and Seminars appears in eachWednesday's edition of the TCR-AP. Submissions about insolvency-related conferences are encouraged. Send announcements toconferences@bankrupt.com

Friday's edition of the TCR-AP features a list of companies withinsolvent balance sheets obtained by our editors based on thelatest balance sheets publicly available a day prior topublication. At first glance, this list may look like thedefinitive compilation of stocks that are ideal to sell short.Don't be fooled. Assets, for example, reported at historicalcost net of depreciation may understate the true value of afirm's assets. A company may establish reserves on its balancesheet for liabilities that may never materialize. The prices atwhich equity securities trade in public market are determined bymore than a balance sheet solvency test.

This material is copyrighted and any commercial use, resale orpublication in any form (including e-mail forwarding,electronic re-mailing and photocopying) is strictly prohibitedwithout prior written permission of the publishers.Information contained herein is obtained from sources believedto be reliable, but is not guaranteed.

TCR-AP subscription rate is US$625 for 6 months delivered via e-mail. Additional e-mail subscriptions for members of the samefirm for the term of the initial subscription or balancethereof are US$25 each. For subscription information, contactChristopher Beard at 240/629-3300.